MCA filed prosecution against 107 listed companies

He further said ministry has taken a number of measures to improve the ease of doing business in the country

The Ministry of Corporate Affairs has filed prosecution against 107 listed companies under various sections of the Companies Act.

The prosecution has been filed under the Companies Act 1956 and Companies Act 2013, Corporate Affairs Minister Arun Jaitley said.

In a written reply to the Rajya Sabha, he said that during the last two years, three listed companies have been dissolved and 10 companies have been amalgamated as per the provisions of the Companies Act.

To a query on the number of persons who gained employment in new companies during the past one year and the number of people who were rendered unemployed because of companies which have closed down, he said "no such information is maintained in MCA".
 

He further said that the ministry has taken a number of measures to improve the ease of doing business in the country.

"The Ministry has introduced an integrated INC-29 form for incorporation of companies omitted requirement for minimum paid up capital, made mandatory common seal for companies optional and done away with filing for commencement of business," he said.

It has also established a Central Registration Centre, having jurisdiction all over India for speedier procession of incorporation related e-norms in 1-2 days.